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HR 8817 116th Congress House Taxation Administrative law and regulatory procedures Charitable contributions Department of the Treasury Income tax deductions

Preserving Charitable Incentives Act

Introduced: November 24, 2020 Introduced by: Panetta, Jimmy Democratic · California See on congress.gov
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 24, 2020
Referred to the House Committee on Ways and Means.
Nov 24, 2020
Introduced in House
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 Plain-English summary Congressional Research Service

Preserving Charitable Incentives Act

This bill increases the cap for corporate charitable tax deductions from 25% to 100% of a corporation's taxable income for taxable years beginning in 2020 and 2021. This increase encourages corporate donors (e.g., restaurants and retailers) to donate excess inventory rather than destroying it. The bill allows a carryover of excess inventory into the succeeding taxable year.

The bill also directs the Department of the Treasury to revise regulations with respect to the treatment of inventory as costs of goods sold for purposes of the charitable tax deduction.

What's happening now November 24, 2020

Referred to the House Committee on Ways and Means.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Republican 2
R
Fitzpatrick, Brian K.
Pennsylvania · Dec 3, 2020
 R
Smith, Adrian
Nebraska · Nov 24, 2020
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 8817: Preserving Charitable Incentives Act. 116th Congress. Open America. https://openamerica.io/bill/116-HR-8817/
MLA
"H.R. 8817: Preserving Charitable Incentives Act." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-HR-8817/.
Bluebook (legal)
H.R. 8817, 116th Cong. (2026), https://openamerica.io/bill/116-HR-8817/.
Markdown link
[H.R. 8817: Preserving Charitable Incentives Act](https://openamerica.io/bill/116-HR-8817/)
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